Make completing your self assessment tax return fun!

OK, admittedly, fun might be a bit of a stretch. And probably the only sense of enjoyment you'll get is when you've finally filed your self assessment tax return and it's off your plate for another year. However, there are things you can do to make completing your self assessment tax return much less boring and painful.

1 Get your tax return done as soon as possible

It's a familiar story. Like many others, you dislike doing your tax return, so you put it off. January arrives and it brings a sudden sense of urgency because the online filing deadline is at the end of the month. You continue to put it off another couple of days or weeks, and suddenly the online filing deadline is upon you. You panic. Why have you left it so late? Who needs the pressure?

Need to know! You can file your self assessment tax return any time after the UK tax year ends on 5 April. This will make your December and January far better because you'll have the peace of mind knowing that you filed your tax return months ago. You'll know how much tax you owe (so you can budget for payment) and whether you're due a tax refund. Pressure? What pressure?

Did you know? Each year, almost 300,000 "early birds" file their tax return in the week following the start of the new tax year on 6 April (source: HMRC).

2 Do your tax return during the day

You need to concentrate when you're completing your self assessment because mistakes can cost you time and money. That's more difficult if you're tired, so don't do your tax return late at night. Mistakes are more likely, and it will take you longer if tiredness affects your concentration. Complete your tax return during the day, when you're less fatigued. Set aside enough time and try to do it in one sitting.

Need to know! Lack of sleep lowers our alertness and ability to concentrate. It's more difficult to focus and pay attention, which hampers our ability to perform tasks that require logical reasoning or complex thought.

Did you know? More than a third (35%) of people in the UK get seven hours sleep a night (the most common average), while 22% get six hours and 13% get fewer. Only 5% get nine hours' sleep or more (source: YouGov).

3 Pick the right place to do your tax return

You need to be somewhere where you won't be distracted, so you can focus fully on the task in hand. The more you're distracted, the longer it will take. If you can find a space at home where you won't be disturbed, fine. Otherwise, you'll need somewhere else with a decent Wi-Fi connection, possibly a local coffee shop or workspace. Weather permitting, you could do it outdoors.

Need to know! If you're going to complete your tax return at home, be mindful of the main domestic distractions. These include family (especially kids), external noise (eg traffic), TV, smart speaker, household chores, pets, email, phone and smartphone. Social media has, of course, become a major distraction. Remove yourself from all distractions as much as possible.

Did you know? The UK has 57 million social media users, who spend an average of two hours a day on social platforms (source: WeAreSocial). Keeping in touch with friends and family is the most popular reason social media users give for using social platforms (53%), followed by filling spare time (37%) and reading news (27%).

4 Play some appropriate music

While some would never think of listening to music while they work because it distracts them, others are perfectly happy to play music in the background when working. In fact, music is believed to enhance our mood, reduce our stress and boost our productivity.

Did you know? Research suggests that classical music works best for increasing concentration. The theory is that classical music's lack of lyrics makes it less distracting if you're trying to stay focused on your work (source: PPL PRS).

5 Fix yourself a nice drink

Nope, not a cheeky G&T or glass of wine, however tempting. Alcohol impacts our ability to concentrate, of course. Being properly hydrated aids our concentration and there's no better drink than water. Six to eight glasses a day is recommended (more when the weather is warmer). Hot drinks such as tea and coffee can also boost our alertness, but moderation is advised (no more than four cups a day). Herbal teas are less harmful, while also providing health and mood-boosting benefits.

Did you know? >> A cup of tea has about half the stimulant caffeine (40mgs) of a standard cup of brewed filter coffee (80 to 115 mgs). According to the BBC: "When you dose up on tea made to the equivalent strength as coffee, it actually proves to be more effective at sharpening the mind".

6 Have everything you need to hand

Not having all of the necessary information to hand when completing your self assessment tax return is frustrating. It also means that it will take you much longer to complete your tax return while you spend time pulling together all the figures you need. Having all your figures nicely summarised in accounting software saves lots of time.

Need to know! >> To complete your self assessment tax return you'll need:

• Your ten-digit Unique Taxpayer Reference (UTR).
• Your National Insurance number.
• Details of your taxable income from the tax year, including self-employment, dividends, interest, pensions, rental income, capital gains, etc.
• Records of tax expenses relating to self-employment, rental income, etc.
• Any contributions to charity or pensions for which you may be able to claim tax relief.
• P60 showing employed income you've already paid tax on.

Did you know? There are some 3.1 million sole traders in the UK, which is 56% of the total UK business population (source: GOV.UK). There are 2.82 million landlords , with 68% over the age of 55 (source: Uswitch).

7 Use tax return filing software

Using commercial software really can take the pain out of completing your self assessment tax return. It makes things much easier and quicker, while preventing simple mistakes, such as not completing all the necessary supplementary tax return pages. Tax return filing software can also ensure that you claim all of your allowable expenses, tax allowances and reliefs, which maximises your post-tax income.

Need to know! When using filing software, you specify the taxable income you receive and the software loads up the necessary supplementary pages. You're guided through sections of the tax return that you need to complete, while automatic prompts ensure that you put the necessary information in the right places.

Did you know? Market-leading tax return-filing software can cost as little as £5 a month.

Job done? Now reward yourself

Go on, you deserve it. It's likely you're feeling rather smug knowing that your self assessment tax return has been filed, long before the online filing deadline (midnight on 31 January). Maybe you can treat yourself to that cheeky G&T, a glass of wine, caramel latte or mint tea, safe in the knowledge that your self assessment tax return is done and dusted for another year.

Copyright 2024. Sponsored post by GoSimpleTax - tax return software that can help you manage your self assessment.